Press release
IO-Link Market Forecasts to 2028: Industry Growth, Competitive Analysis, Future Prospects
Global Io Link Market
IO-Link is a short distance, point-to-point, wired (or wireless), bi-directional, digital, industrial communications networking standard (IEC 61131-9) used for connecting digital sensors and actuators to either a type of industrial field-bus or a type of industrial Ethernet. Its objective is to provide a technological platform that enables the development and use of sensors and actuators that can produce and consume enriched sets of data that in turn can be used for economically optimizing industrial automated processes and operations.
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Some of the key players profiled in the IO-Link Market include ABB, Aventics, Balluff GmbH, Baumer, Beckhoff Automation, Belden Inc, Bosch Rexroth AG, Datalogic, Festo SE & Co. KG, Hans Turck GmbH & Co. KG, ifm electronic GmbH, Omron Corporation, Pepperl+Fuchs, Rockwell Automation, Inc, SICK AG, Siemens, SMC Corporation, Turck, Weidmuller, and Wenglor.
The Global IO-Link Market is majorly driven by ability to support all fieldbus protocols and growing adoption of IO-Link in automotive industry. The IO-link wired segment is growing at a highest CAGR owing to the rising demand for cost-saving installation of two-way communication between field devices such as sensors, actuators, controllers, and other automation systems on a factory floor. Europe dominated with a significant market share due to the factors such as the rising demand for IoT-connected devices and industrial automation in manufacturing industries across the region. Asia Pacific market is growing at a highest CAGR owing to the increasing manufacturing sector in the region.
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The research provides in-depth analysis of the global Io Link Market numerous growth opportunities and segmentation by types, applications, end-users, and geography. In terms of drivers, restraints, opportunities, trends, and the competitive landscape, the research provides a solid platform for users who want to enter the global market. The study also goes into great detail about the supply and demand analyses, as well as main industry players' participation and market share growth data. The sales margin, pricing, revenue share, and gross margin are all calculated in detail. The report contains an accurate simulation of industry insight, smart solutions, practical solutions, and the latest technology to provide a better user experience. The global Io Link Market research includes a complete breakdown of regional break-up, status, leading growth rate, country market shares, and future technologies.
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